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Punjab Assembly passes 'The Right to Business Bill, 2020' to facilitate business for MSMEs

Updated: Jan 18, 2020 11:13:37am
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Chandigarh, Jan 18 (KNN) The Punjab Vidhan Sabha has passed ‘The Right to Business Bill, 2020’, and ‘The Punjab Goods and Services Tax (Amendment) Bill, 2020’ (replacing ordinance) which will facilitate business for Micro, Small and Medium Enterprises (MSMEs).

The Right to Business Bill, which was passed on Friday, will help the MSMEs in the State to get a big relief from the tedious process of getting regulatory approvals before setting up of the units.

The bill is aimed at easing the regulatory burden on newly incorporated MSMEs by providing enabling provision of self-declaration, besides exemption from certain approvals and inspections for establishment and operations of MSMEs in Punjab.

It would encompass various regulatory services, including sanction of building plans, issuance of completion or occupation certificate for buildings, registration of new trade license under the Punjab Municipal Act, 1911, and the Punjab Municipal Corporation Act 1976, sanction of building plans, among others.

Under the law, an MSME unit can be set up after ‘In-Principle’ approval from the District Bureau of Enterprise, headed by the Deputy Commissioner, working under the guidance of the State Nodal Agency, headed by the Director, Industries.

Approval for units in approved Industrial Parks will be given in three working days. For new enterprises outside approved Industrial Parks, the decision on the “Certificate of In-Principle Approval” shall be taken by the District Level Nodal Agency within 15 working days, as per the recommendations of the Scrutiny Committee.

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